Mill Valley Top Agent Real Estate Report (September 2016 Home Sales Update) | Pacific Union

September 14, 2016

Mill Valley Top Agent Real Estate Report (September 2016 Home Sales Update) | Pacific Union (click HERE for a video about Mill Valley). Many consider Mill Valley to be Marin County’s shining jewel. A small town with about 14,000 people and sitting a couple miles north of the Golden Gate Bridge, just past world famous Sausalito, Mill Valley is widely considered one of the most desirable towns in the Bay Area. Affluent buyers from all walks of life live and thrive here. In terms of the number of sales, August 2016 was a slow month with just 22 homes sold (August 2015 had 28 sales). The average sales price of approximately $1.752 million, reflects the incredible run up in prices in Southern Marin (up over $320K from last August). The sold properties of August 2016 averaged 2,164 square feet at $809 per sq. ft. As pricing has increased significantly over the past couple of years, Mill Valley home buyers continue to jump decisively when exceptional properties in desirable locations come to market. Indeed, multiple offers are quite common on such homes, coupled with short contingencies. I expect that this will continue through the Fall and Winter of 2016.

There are currently a startling high number of single family homes listed for sale in Mill Valley. This dramatic increase is likey due to seller opportunism as prices are so high many sellers can’t resist testing the market. Of course, many of these homes will not sell as they are priced far higher than recent comparable sales. Mill Valley’s current absorption rate is just under 3 months (6 months is considered “balanced”). Below are the percentages of homes in escrow in each of Mill Valley’s major price bands (note that due to increased prices, I have eliminated the “under $800,000″ price level):

  • 38% of homes below $1 million;
  • 35% of homes between $1 million and $1.5 million;
  • 26% of homes between $1.5 million and $2 million;
  • 24% of homes between $2 million and up.

Of the 22 homes that sold in August 2016:

  • 10 homes were under $1.5 million;
  • 12 homes priced from $1.5 million and up.

MLS Listings in Sycamore Park, Tamalpais Park, Boyle ParkMiddle Ridge and Strawberryneighborhoods generated the most calls and showings this past month. If you would like me to run the exact numbers for your Mill Valley neighborhood or if you have any questions about Mill Valley schools or its many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Top Agent, J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.